Ken Griffin

The real mayor of Miami is not sitting anywhere near city hall. Instead, he’s running one of the most powerful and profitable financial firms in the country from the city’s downtown. That’s Ken Griffin. 

Since moving the two financial firms he founded — hedge fund Citadel and market maker Citadel Securities — to Miami two years ago, Griffin has arguably done more than anyone to position the Magic City as the next epicenter of finance. When Griffin proclaimed in November 2023 that Miami “represents the future of America,” the sound bite produced countless articles, bringing great publicity for a city previously known for tawdry partying and dodgy schemes.

Citadel has made large moves in Miami real estate. The firm’s relocation also brought hundreds of highly paid employees to Miami, boosting the city’s residential market. It paid $363 million for a waterfront site in Brickell — a record price for Miami — where it’s in the early stages of developing a tower for its headquarters that will reshape Miami’s skyline. The firm also purchased a nearby office building for $287 million. 

Griffin, on his own accord, has made big real estate purchases, paying a combined $244 million on mansions and lots in the Miami area since the pandemic. 

The investor, who’s worth an estimated $37 billion, has given hundreds of millions of dollars to expand access to broadband internet, to create a disaster relief fund, to extend a public park; he also gave $25 million the to Nicklaus Children’s Hospital and $20 million to Miami Dade College. Not to mention the fact that the hedge fund topped the list of most profitable hedge funds in the country for the second year in a row. What more could Miami ask for?

The billionaire’s influence extends well beyond Miami, too. He appears to have successfully lobbied Florida lawmakers to soften a ban on Chinese nationals from buying property in the state. This month, Griffin penned an op-ed in opposition to expanding casino licenses across the state. Now the fate of the bill remains in limbo. That’s some real power.